What I like about weight limits is when it makes you manage your equipment in advance, which is not the same thing as managing your loot. Having to figure how many and what kind of potions you should carry, scrolls,weapons, armor and other miscellaneous utility items like pickaxes, soul gems etc when you're preparing for a trip is fun.

Sorting the junk you just intend to sell because you've hit the carrying limit in the middle of a dungeon however is dull and you should be able to get it over with as quickly as possible, in these games a Value/Weight stat or tab would have been a great useability feature.